GdF Suez plans to join Nabucco project

PanARMENIAN.Net - GdF Suez French energy company is ready to consider the possibility of making long-term investments in Nabucco project, stopping discussions over participation in South Stream, BFM.ru quotes GdF Suez President Gérard Mestrallet as saying.



"Political difficulties are overcome, and that enables us to revise our approach to making long-term investments in the project." Mestrallet said, commenting on country's readiness to join Nabucco.



"As far as South Stream is concerned, there no need to make investments there. We can't be present everywhere," Mestrallet stated firmly.



Thus, GdF Suez declares of its intention to join Nabucco, a 3.3 km. gas main connecting Central Asia with EU countries via Azerbaijan and Turkey (passing round Russia).



French company considered such possibility two years ago, however political circumstances prevented realization of its plans. After French Parliament's recognition of Armenia Genocide in 2008, Turkey imposed a secret veto on French company's participation in Nabucco. Thereafter, GdF Suez was interested in South Stream, a project realized by Gazprom and Italian Eni.



Komersant refers to the recently signed memorandum between Armenia and Turkey. Besides, French President Nicola Sarcozi last week met with his Turkish counterpart Abdullah Gül and expressed hope that his country would soon be able to join the project.



International GmbH, operator Nabucco Gas Pipeline, also expressed support to French company's initiative. "We welcome French people's interest in our project. Nabucco will be open for a seventh partner, and that may also receive shareholders' support in case of having significant benefits." However, GdF Suez representative said that company is not conducting negotiations for now.